Denny’s, an ‘iconic piece of the American dream,’ is going private

Denny's is being acquired by a group of investors including TriArtisan Capital, Treville Capital, and Yadav Enterprises. The deal values Denny's at $620 million, including debt, and will take the breakfast chain private. Shareholders will receive $6.25 per share, a 52% premium over Monday's closing price. Denny's shares surged after the announcement, reflecting investor optimism. The company, founded in 1953, faced pandemic-related challenges and changing customer preferences. Denny's also planned to close 150 underperforming locations to streamline operations. As of Q2, Denny's operated 1,558 restaurants globally, including Keke's, acquired in 2022. CEO Kelli Valade believes the acquisition is the best path forward for shareholders. The investors aim to support Denny's long-term strategic growth with additional resources. The acquisition, pending shareholder approval, is expected to finalize in early 2026.